TSKB's Role in Turkish Industry Development

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TSKB, a privately owned development bank in Turkey, focuses on promoting investments in the Turkish industry, facilitating capital participation, and contributing to capital market development. The bank provides services for SMEs and smaller-sized companies, emphasizing direct lending and APEX banking.

  • TSKB
  • Turkish Industry
  • SMEs
  • Development Bank
  • Capital Market

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  1. TSKB Presentation on SMEs 13 February 2017

  2. TSKB at a Glance 2

  3. Privately Owned Development Bank with Public/Private Mission As LT Fund Providers IFI s Public Authority Guarantor of the system & priorities of the country Private Sector Both as Client & Shareholder 3

  4. Mission of TSKB Promote investments of private initiative in the Turkish Industry Assist the participation of domestic and foreign capital to companies Contribute to the development of the Turkish capital markets 1 2 3 TSKB is focused on M of the SMEs in direct lending and is providing services for smaller-sized companies SMEs APEX banking 4

  5. TSKBs First Shareholders Bankas Osmanl Bankas Yap ve Kredi Bankas Selanik Bankas T. Ticaret Bankas Garanti Bankas Akbank Banka Komer iyale talyana (Banca Commerciale Italiana) Banka di Roma Hollantse Bank Uni. Tutum Bankas T. mar Bankas T. Kredi Bankas stanbul Ticaret Odas stanbul Ticaret Borsas ukurova Sanayi letmeleri Mensucat Santral zmir Pamuk Mensucat Others (7 persons) TOTAL 24% 16% 12% 4% 4% 3.86% 2% Banks 77.86% 2% 2% 2% 2% 2% 2% 8% 8% 2% 2% 2% Chambers 16% 0.14% 100% 5

  6. TSKBs Shareholders 1963, 1986, 2002 & 2015 1963 1986 Banks* 51.4% Banks 83% Insurance Companies 16.3% Chambers 5% Chambers 8% Companies 1% * IFC as a Development Finance Institution became the second largest shareholder of TSKB in 1963 with a share of 15%. Companies 2.2% Others 11% Others (273 participants) 22.1% TOTAL 100% TOTAL 100% 2002** 2015 Banks 87% Bank Group 50.6% ** Merger of TSKB and S nai Yat r m Bankas was completed in 2002. Chambers 1% Free Float and Others 41.0% Others 12% Vak fbank 8.4% TOTAL 100% TOTAL 100% 6

  7. TSKB @ a Glance Ownership Structure First and only Private Development Bank in Turkey TRY 24.0 bn asset size Free Float and Others 40.97% 357 employees, 2 branches Bank Group 50.65% 19th bank in terms of Asset size 3.3% market share in LTFC corporate loans TRY 3.0 bn MCAP* 59.6% of free float belongs to foreign funds Vak fbank 8.38% *As of Feb, 02 Main Subsidiaries Ratings Yat r m Finansman Securities TSKB Turkey TSKB REIT Fitch LTFC BB+ BB+ I Leasing Moody s LTIR Ba1 Ba1 TSKB Real Estate Appraisal Corporate Governance Rating Escarus SAHA 9.53/10 EIF 7

  8. TSKB @ a Glance II Summary Financials - TL Mn YE 16 YE 15 YE 14 YE 13 Total Assets 24,002 20,735 15,701 12,911 Loans 17,322 13,675 10,981 9,177 Funds Borrowed 15,840 13,445 9,996 9,109 Shareholders Equity 2,928 2,489 2,288 1,885 Non Performing Loans (2012 2016) 3.20% 3.10% 3.00% 2.90% 2.90% 0.40% 0.40% 0.20% 0.30% 0.20% 2012 2013 2014 2015 2016 TSKB NPL Ratio Banking Sector NPL Ratio 8

  9. Main Activities Corporate Banking Investment Banking Advisory Corporate Lending Project Finance Apex Banking (11 commercial banks, 12 leasing companies, 3 factoring companies, 4 participation banks) Leasing Foreign Trade Financing ECA Credits Working Capital IPO Bond Issuance M&A Asset Purchase Sale Money and Capital Markets Brokerage Portfolio Management Derivatives Strategic Advisory Real Estate Appraisal Environment and Sustainability 2016 YE % of Income % of Assets Corporate Banking 43% 69% Investment Banking 47% 24% Other Income, mainly from Subsidiaries as dividends 10% 7% 9

  10. TSKBs APEX Banking Operations Under its APEX Banking operations TSKB acts as an intermediary bank through lending to leading Turkish commercial & pariticipation banks and leasing & factoring companies, namely Participating Financial Institutions (PFIs), which in turn on-lending to SMEs and EoEs*. The development finance institutions in which TSKB secures funds for its APEX Banking activities TSKB has a well-established network of 30 Participating Financial Institutions (PFIs) under APEX Banking *EoEs: Export oriented Enterprises 10

  11. PFIs under APEX Banking Operations Factoring Companies Commercial Banks Leasing Companies Participation Banks 11

  12. Funding Structure 12

  13. Long Term DFI Funding Outstanding Funding Base 87% of DFI Funding guaranteed by Turkish Treasury IBRD 38% EIB 30% KFW 10% IDB 8% CEB 5% DFI Funding - 2016 Amount Theme IFC 2% 2015 AFD 3% 2016 EIB 100 mio EUR SME and Midcap EBRD 2% CITI 1% EIB 100 mio EUR Energy and Environment OEB 0% AFD 100 mio EUR Women Employment and Occupational Health&Safety IBRD 150 mio USD Geothermal Energy Yearly Multilateral Funding Agreements CEB 100 mio EUR APEX USD mn KfW 150 mio EUR Renewable Energy and Environment TOTAL 2016 733 mio USD 986 733 660 463 InnovFinSME Guarantee Facility agreement which has a maximum portfolio volume of EUR 20 million with European Investment Fund (EIF) to ease financial access of innovative SMEs and small Mid-caps 340 2012 2013 2014 2015 2016 *DFI: Development Finance Institutions 13

  14. Current Long Term DFI Funding Themes Resource Efficiency Renewable Energy Energy Efficiency Sustainable Tourism SME & MidCap Agribusiness Women s Employment & Occupational Health and Safety 14

  15. DFI Fundings with SME Theme Loans Provided From DFIs EIB SME 1 JBIC Earthquake SME (2000) EIB Global Loan 2 (2000) Industrial Sector Global II Loan KfW SME (2002) EIB Industrial Sector Global III Loan (2003) EIB Industrial Sector Global IV Loan (2004) CEB I (2004) EIB Small Business APEX Global Loan (2004) EIB Industrial Sector Global V Loan (2005) CEB 2 (2006) IBRD SME EUR (2007) EIB SME Development Global Loan (2007) EIB SME Development Loan (2009) CEB 3 (2009) EIB TSKB Loan for Mid-Caps and SMEs / A (2011) EBRD TURAFF (2011) EIB TSKB Loan for Mid-Caps and SMEs / B (2012) EIB Sustainable Tourism & EE Global Loan (2013) CEB IV SME Loan (2013) TSKB Loan II for SMEs EIB Mid-Caps & Other Priorities (2013) Signature Date Currency Amount (Mio) 26/08/1997 EUR 28/03/2000 JPY 21/06/2000 EUR 10/07/2001 EUR 04/07/2002 EUR 02/04/2003 EUR 04/03/2004 EUR 07/04/2004 EUR 02/12/2004 EUR 29/11/2005 EUR 10/07/2006 EUR 22/06/2007 EUR, USD 19/07/2007 EUR 08/06/2009 EUR 18/12/2009 EUR 04/07/2011 EUR 17/11/2011 EUR 28/06/2012 EUR 24/04/2013 EUR 03/06/2013 EUR 60 + 48 $ 100 15.630 50 61 21 130 70 65 150 107 100 Loans Provided From DFIs with SME Theme 100 165 100 75 50 75 100 100 Since 1997 3 Billion USD In Total 04/12/2013 EUR 150 IBRD Innovative Access to Finance Project (2014) 22/08/2014 USD 190 CITIBANK - OPIC (2014) EIB TSKB Loan III for SMEs and Midcaps and Innovation / A (2015) EIB TSKB Loan III for SMEs and Midcaps and Innovation / B (2016) AFD Women Employment Occupational Health&Safety CEB 5 APEX (2016) 25/09/2014 USD 40 26/05/2015 EUR 100 04/02/2016 EUR 100 07/12/2016 EUR 100 20/12/2016 EUR 100 15

  16. Loan Portfolio Loans by Type Loans by Sector 67%Investment Loans Electricity Production 35% Electricity/Gas Distribution 10% 25%Working Capital Loans Finance 14% 8% APEX Logistics 5% Metal and Machinery 5% SMEs in Portfolio Chemistry and Plastics 5% Non-residential Real Estate 5% SMEs DL 18% Construction 4% Tourism 4% Food 3% Automotive Industry 2% Other 9% 93% foreign currency denominated 38% in Euros, 55% in USD Other 82% 5.9 years of average maturity 16

  17. Financials 17

  18. Banking Sector vs TSKB Loans/Assets CAR NPL 3.2% 15.6% 72.2% 64.2% 14.3% 0.3% Banking Sector TSKB Banking Sector TSKB Banking Sector TSKB * Sector data as of Dec. 16 Long Term DFI Funding 59% Deposits, 52.5% TSKB Banking Sector Deposits (Average maturity less than 3 months) Long Term DFI Funding (11 years of average maturity) 18

  19. Asset Composition FX Total Assets Growth (FX adjusted) TRY YoY QoQ 24,002 Loans 8.2% -0.1% 22,870 20,735 Securities, Cash&MM -13.4% -18.3% 15,701 69.9 % 73.4% 76.8% Total Assets 1.8% -5.0% 70.6% FX Assets 1.3% 0.3% 30.1% 26.6% 29.4% 23.2% TRY Assets 0.7% -19.3% 2014 2015 3Q-16 2016 2015 2016 TRY Loans, 4.8% TRY Loans; 5.3% FX Loans; 66.8% Securities, 18.5% FX Loans, 61.1% Leverage Ratio 8.2X Securities; 18.3% Loan to Asset Ratio 72.2% Cash & MM, 11.7% Cash & MM; 6.3% Non IEAs; 3.2% Non IEAs, 3.8% 19

  20. Liabilities Composition FX Total Liabilities Growth (FX Adjusted) TRY 24,002 YoY QoQ 22,870 20,735 Funding 5.1% -2.0% 15,701 74.9%% 81.1% 74.4% Equity 17.7% 2.0% 70.8% FX Liabilities 6.2% -0.6% 25.1% 25.6% TRY Liabilities -14.6% -21.0% 29.2% 18.9% 2014 2015 3Q-16 2016 2016 2015 Eurobond 14.5% Eurobond 9.8% Repo 10.5% FX Repo 3.8% Funding 65.6% FX Duration: Funding 63.9% Equity 12.2% Loans 2.8Y Equity 12.0% Funding 5.4Y Other 3.9% Other 3.8% 20

  21. Development Finance Institutions Department Email: developmentfinanceinstitutions@tskb.com.tr Thank You

  22. Annex

  23. Firsts by TSKB 1950 s Financing private sector with mid-long term loans on a project basis Technical consulting services for project sponsors Realizing a preliminary survey and pioneering in the foundation of capital markets The only organization able to provide export loans in foreign currency in a period when the lack of foreign currency in the country was at its highest The only organization mediating in the cash sale of the foreign currency released from Marshall relief fund 1960 s Acting as the undertaker and the guarantor for private sector bonds issued Initial public offerings of the share capital First independent auditing by an international independent auditing firm TSKB became the first participation of IFC in Turkey, Loan support to the manufacturing of first Turkish bus, first Turkish automobile, automobile tire, LPG cylinder, and high voltage cables First Turkish music record, first movie sector loan, first encyclopedia First Turkish battery, first cola drink, toilet paper, pencil, carton, plastic, and acrylic fiber 23

  24. Firsts by TSKB 1970 s 1980 s Investment incentive for private sector investments in developing regions First long term bond issue Providing funds by mid term syndication loans from European markets Providing large scale research services for manufacturing and services sectors Developing the first short term econometric model for Turkish economy Developing the fund-flow model for the financial sector in Turkey Extending hedged foreign currency investment loans (FERIS) Its own bond issue in international capital markets (Tokyo) Organizing manufacturer surveys for various sectors Providing buyer loans from European and Japanese financial institutions (1970 s and 1980 s) Consulting services for textile and other sectors in cooperation with international consulting organizations Privatization consulting services for the state-owned cement factories Preparing the Privatization Master Plan for Turkey First public offerings with the firm commitment offering method Establishing capital markets relationship with Islamic Development Bank Bank bonds and bank guaranteed bonds operations 24

  25. Firsts by TSKB 1980 s Econometric model survey for Turkish Economy (TEM) First dental prosthesis in Turkey, first modern packaging, first double-blade shaver, first sneakers manufactured with modern methods, first advanced technology journalism, and first Turkish encyclopedia Loan support for the first application of modern greenhouse floriculture 1990 s Signing long term foreign currency and interest swap deals with international banks Providing mid term TL loans with floating interest rates for the industry sector Consulting services for the World Bank in Uzbekistan Management of Risk Capital Fund founded by European Investment Bank (EIB) Voluntary participation in Risk Management Analysis program supported by the World Bank 2000 s Extending a loan for a healthier environment first credit appraisal studies considering environment criteria , The first bank that established a real estate appraisal company approved by the Capital Markets Board (SPK), Coordination secretariat services within the framework of Istanbul Approach, Developing the risk-based loan pricing model , Obtaining ISO 14001 Environment Management System Certificate, Being selected as the Sustainable Bank of the Year'' in Eastern Europe Region. TSKB has joined EIF's registry of shareholders and currently holds 0.18% share in the Fund. 25

  26. Firsts by TSKB 2010 s Provision of a credit line specifically for a healthier environment the first loan operations that takes energy efficiency into consideration The first Turkish bank to release the GRI approved sustainability report EMEA Finance: Best Equity House in Turkey" award, Euromoney: "European Hydro Power Deal of the Year", "European Utilities Deal of the Year" Corporate Governance Awards: Highest Corporate Governance Ratings , Financial Times and IFC: Nominated as the best bank in Europe , TIREC Summit: Best Business Partner , Clean Technology and Energy Awards: Best Inventor award Launched www.tskbenerjiverimliligi.com a web site that focuses on energy efficiency Corporate Governance Association of Turkey (TKYD) 5th Corporate Governance Summit, 2nd Corporate Governance Awards/Highest Corporate Governance Rating The first Turkish bank to receive ISO 14064 Greenhouse Gases Emissions Certificate Corporate Governance Association of Turkey (TKYD)- 6th Corporate Governance Summit, 3rd Highest Corporate Governance Rating Membership of UNEP FI, LTIC, IDFC The first and only Turkish bank to have been granted membership of the Long-Term Investors Club (LTIC) Issuance of 14 thematic funds Securing the first EBRD credit which aims to finance SME s industrial projects based on agriculture. TSKB ranked among the companies with highest scores in Transparency and Performance categories under CDP Turkey 2013 Climate Change Leaders awards and received awards in both categories. 26

  27. Firsts by TSKB 2010 s - Continued Secured its first OPIC covered loan amounting USD 40 mn in 2014 under the theme of SME, renewable energy and energy efficiency Tapped the international debt capital markets first time in 2014 with a 5 year tenor USD 350mn senior unsecured bond issuance Established its MTN Programme in 2015 with the size of USD 750 mn; the first drawdown under the programme which is 5 year tenor USD 350 mn due 2020 As of August 2015, upon the invitation of the EIF, TSKB participated in the funds of fund titled Turkish Growth and Innovation Fund (TGIF) through a commitment amounting to EUR 20 mn. On May 2016, TSKB realised the first Green / Sustainable Bond ever from Turkey and also the broader CEEMEA region. 5 years tenor USD 300 million bond issuance reached over US$ 4bn with the largest oversubscription for a Turkish FI in years. 27

  28. Development Finance Institutions Department Email: developmentfinanceinstitutions@tskb.com.tr Thank You

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